Sowell Financial Services LLC Takes Position in Merchants Bancorp (NASDAQ:MBIN)

Sowell Financial Services LLC acquired a new position in Merchants Bancorp (NASDAQ:MBIN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,585 shares of the company's stock, valued at approximately $318,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MBIN. Cetera Investment Advisers lifted its stake in Merchants Bancorp by 4.0% during the fourth quarter. Cetera Investment Advisers now owns 9,800 shares of the company's stock worth $357,000 after purchasing an additional 381 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Merchants Bancorp by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,292 shares of the company's stock valued at $375,000 after purchasing an additional 392 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Merchants Bancorp by 1.1% during the fourth quarter. LPL Financial LLC now owns 47,903 shares of the company's stock worth $1,747,000 after purchasing an additional 527 shares during the last quarter. Inceptionr LLC grew its holdings in shares of Merchants Bancorp by 13.7% during the fourth quarter. Inceptionr LLC now owns 5,718 shares of the company's stock worth $209,000 after purchasing an additional 687 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of Merchants Bancorp in the fourth quarter valued at $25,000. Institutional investors own 24.57% of the company's stock.

Merchants Bancorp Trading Down 1.1%

Merchants Bancorp stock traded down $0.35 during trading hours on Wednesday, reaching $32.51. 102,446 shares of the company's stock traded hands, compared to its average volume of 176,369. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 6.04 and a beta of 1.29. The company has a debt-to-equity ratio of 2.49, a quick ratio of 0.88 and a current ratio of 1.20. Merchants Bancorp has a fifty-two week low of $27.25 and a fifty-two week high of $53.27. The firm's 50 day moving average is $31.99 and its 200-day moving average is $36.02.

Merchants Bancorp (NASDAQ:MBIN - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.32). Merchants Bancorp had a net margin of 20.73% and a return on equity of 19.09%. The business had revenue of $287.20 million during the quarter, compared to analyst estimates of $169.00 million. On average, analysts predict that Merchants Bancorp will post 5.54 earnings per share for the current year.

Merchants Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, June 13th. Merchants Bancorp's dividend payout ratio (DPR) is currently 7.35%.

Analyst Ratings Changes

A number of brokerages have commented on MBIN. Raymond James Financial reissued an "outperform" rating and set a $41.00 price objective (down previously from $45.00) on shares of Merchants Bancorp in a report on Tuesday, April 29th. Morgan Stanley decreased their price target on shares of Merchants Bancorp from $47.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. Finally, Wall Street Zen upgraded shares of Merchants Bancorp from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th.

Merchants Bancorp Company Profile

Merchants Bancorp operates as the diversified bank holding company in the United States. It operates through three segments: Multi-family Mortgage Banking, Mortgage Warehousing, and Banking. The Multi-family Mortgage Banking segment engages in the mortgage banking, which originates and services government sponsored mortgages, including bridge financing products to refinance, acquire, or reposition multi-family housing projects, and construction lending for multi-family and healthcare facilities.